Nikkei: “With sharper focus, Nikon looks to beat first-half profit forecast”


Nikon issued the following statement regarding a new Nikkei article titled "With sharper focus, Nikon looks to beat first-half profit forecast" that was published yesterday:

There was a media article regarding Nikon's expected financial results. Nikon has made no announcement in this regards. Nikon's financial results of the 2nd quarter for the fiscal year ending March 31, 2018 will be announced on November 7, 2017 and we are currently finalizing the figures. We will immediately make an announcement if and when it becomes necessary.

Here are some quotes from Nikkei's article:

Nikon's operating profit for the April-September half apparently shrank about 30% on the year, but beat projections of a 37% plunge thanks to improved sales of digital cameras and restructuring.

The Japanese manufacturer probably took in around 19 billion yen ($168 million) in group operating profit. This would come after Nikon upgraded its profit guidance by 6 billion yen to 17 billion yen in August. Sales likely dipped 1% to around 340 billion yen, but that would beat the 331 billion yen outlook.

Total shipments of digital cameras by value rose 23% on the year from January through August, according to the Camera & Imaging Products Association, a Tokyo-based industry group. Japanese makers account for the bulk of those deliveries.

Nikon has also seen strong demand for interchangeable lenses, especially in Western markets. The D7500 camera, launched in June at a mid-range price, is also selling well.

The company's entire imaging products segment, which includes digital cameras, apparently sold fewer high-end items than a year earlier, but the segment's operating profit is seen topping the forecast anyway.

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  • Wedding_Shooter

    Really could care less. And unless you are a shareholder; I’m not sure why anyone here would give a damn about a massive company’s profit margins?

    • NJP

      Other than it being a Nikon news site and all.

      • Lee Smith

        It is not a Nikon news site. It is a rumour site that makes money from ads.

        • Allan

          How good are the rumors on the Nikkei website?

          • Nyarlathotep

            Generally pretty reliable. Peter is discerning in what he posts and will call a spade a spade if he suspects a rumor is questionable or junk.

          • Thom Hogan

            The Nikkei tends to publish on the “whisper numbers,” which seems to be the case here.

            • As far as I can recall, Nikkei was always right in the past with their predictions.

            • Thom Hogan

              Yes, that’s correct. These early earnings reports tend to be accurate.

            • Allan

              Just to add what Nyarlathotep wrote below.

              Peter,

              We appreciate your exercising excellent editorial skills in deciding what to post.

        • I am not sure I understand your comment here. What do ads have to do with anything? CNN.com has ads, nikkei.com has ads and so do the majority of the website out there. I can make NikonRumors also subscription based. Will that work better for you? Btw, that article Nikkei published is a rumor, not news…

          • David Gottlieb

            But you do post news here as well…. not just rumors…. As far as I can tell….

            • Yes, but I will ask again: what exactly is the issues here?

            • ZoetMB

              There’s no issue. He’s either a troll or a “get off my lawn” kind of guy. People need to make idiot criticisms in order to make themselves feel good.

            • David Gottlieb

              There is absolutely no issue. I have no idea why Lee Smith said what he said. Your site is quite intelligent and informative and appreciate the news and the rumors and the guest posts. I would just ignore this person..

            • thanks for being a reader 🙂

        • David Gottlieb

          It’s both – a rumor and a news site.

          • Allan

            Your comment has 2 potential meanings. I like it.

            • nzswedespeed

              Sorry wrong person haha

            • David Gottlieb

              You had me scratching my head for awhile….

          • thundrrd

            It’s two … two mints in one.

            • David Gottlieb

              Very funny…

        • ZoetMB

          The New York Times and Wall Street Journal also make money from ads as does every TV network. Are those not newspapers and programming networks? And this site has both news and rumors. Your implication is that because it makes money from ads, the information is worthless. If that’s what you think, I’m not sure why you bother being here. Would you be wiling to pay a subscription fee to get rid of the ads? Yeah, didn’t think so.

    • Vince Vinnyp

      Well, since we often hear reports that Nikon is about to die, it’s nice for all the people who work for them and their families that they will still have jobs. Selfishly I also like the idea that my warranty will still have a company behind it..

    • Fly Moon

      So do you prefer they bankrupt and disappear like Kodak?

    • JJ168

      As a wedding shooter, dont you care about maintenance of your camera gears? What are you going to do with your gears if nikon close their business tomorrow?

      • Wedding_Shooter

        Not particularly. I’ve ran alll my cams til they died from shutter failure. Barely visit nikon, for the most part tht’d be a waste of my time I’d just buy a new one…new company. It’s my skill that has the value. Not the camera bodies 😉

        • Nyarlathotep

          And what happens when Nikon is gone, your bodies die and no more new bodies are available. You are sitting around with a bunch of glass and accessories, what do you do? Buy used? How long will that work. Move Ecosystems? That is costly, but for many pros and prosumers, that may be their option.

          • Wedding_Shooter

            Do you relise there are enough nikon cameras produced to last til im dead even without switching. Wrap your head around it.

            • Nyarlathotep

              Unless you go to film, or you are very old, no there are not. The electronics of a lot of these cameras are not apt to last that long. And the price of parts swapping is pretty high. It’s not like part swapping a car.

              But sure, you could probably live off the used market for decades. Most everyone else, probably a majority of the people on this forum, will have moved on at some point less than 10 years. So sure, this model of remaining on a dead-end system works for you, but as stated by others, it would be a friction point for the rest of us. So again, this article is of interest to people, and obviously not you. Point made, guess what, we still care. If you don’t care, well don’t read the articles and post. I select articles to read because I care about the information. I don’t go complain in any forum where I don’t care about the topic, nor do I go posting just to make it known how much I don’t care. No one wants to know how much you don’t care.

    • PhilK

      Of course people here are interested in these things.

      If you are a devoted Nikon user, then it’s not the least bit surprising you may be interested in the ongoing health and viability of the company.

      I’ve owned various products from companies that eventually went out of business, and if those products perform important tasks for you and thus you rely on support for those products from the manufacturer, that sucks.

      Oh, and BTW: “could care less” is rhetorically nonsensical and lazy.

      • Wedding_Shooter

        I own a bmw. You willl not see me sitting cowering over their stock prices all worried etc. Could care less. Other cars..more important things in life. They’re all just heartless big companies…wake up.

        • Nyarlathotep

          But if you had a warranty in the first year of ownership and you blew your transmission or some other drive train part, I bet you’d be thrilled with an unexpected $6K expense.

          Now that said, if BMW goes out of business, there is probably still back stock of OEMs parts to last at least a while, and
          third party manufacturing would pick-up the parts slack given the market for parts would be large given BMW’s foot print. But now, go ask a SAAB owner how they feel about this… That’s more like Nikon disappearing situation, some parts are like finding Hens teeth, often entails scrubbing junk yards.

          Parts for Nikon gear is not easy to come by the way Nikon restricts access to parts. This would be a bummer if Nikon ate it. Plus, who wants to abandon an eco system when their company dies and support for new product dies. It is a pain point, costly and of interest to a lot of shooters with a sizable commitment to the Nikon eco system.

          • PhilK

            Good points, but I think you’re wasting your time with this person.

            • Correct. That BMW referance reminded me of comments section of gamers sites.

            • PhilK

              Arguments defending the ‘right of companies to make as much money as they want, however they want to do it’ from people engaging in ‘wealth signalling’. Yep.

              Didn’t know that was common on gamer’s sites. Probably common in lots of places.

            • Nyarlathotep

              These days, pretty much all sorts of nonsense occurs in all forums anymore. Its a shame, quality discourse often gets mired in forum garbage posts, lovingly known as S#Itposting.

            • PhilK

              Yep.

              And remember: everyone on the internet drives a BMW. 😀

            • Yes, It generally starts with assertion of importance with “kind of cars and jobs” and ends with “a kid gaming from a basement in mom’s house.

            • PhilK

              Yep.

              Everyone on the internet drives a BMW.

              Including those who get the 15-year-old low-end model from a junkyard, and then painstakingly remove the model number from the back, but ‘strangely’ don’t touch the brand logo… hoping that people will think they have the expensive one. 😀

            • If a company is making too much profit, then capitalism allows for other companies to enter that market and take away some of that profit. Not even the government is that efficient. I’m talking free market capitalism, not crony capitalism which we see so much these days.

          • Wedding_Shooter

            The amount of cam eras I’ve owned never had this happen. I’d live. Stuff tends to break well down the line if it’s going to. Which is why I don’t beta test for nikon. Remember the d600 😉

          • Wedding_Shooter

            There are enough nikon bodies and lenses out there for me to shoot with fr 50 years. Even if they went under right now. I don’t waste my time thinking about this stuff. Clearly I’ve riled the fanboys.

            • Spy Black

              Not if they go out of business. They’ll all be snapped up and you won’t have acces to anything. 😉

            • David Gottlieb

              Well, if you bought Nikon stock a year ago, you would be up 20 percent…. That’s a reason to care. Buy what you know says Warren Buffet….

        • PhilK

          Instead of constantly looking for excuses to spout your ideological economic rants, you may want to actually pay attention to what people are writing about.

          If BMW were even remotely in danger of going out of business and making their cars unserviceable, then I’m pretty sure you’d care, bigtime.

          Unless you’re just careless. 😉

          • Wedding_Shooter

            Nope I really wouldn’t care if bmw went under other than they make nice cars I owe them nothing. Wow you really are taking this hard aren’t you? It’s just a car. Other people make cars.

            • PhilK

              If you wouldn’t care then you are, in fact, careless.

              Your decision to gratuitously drop the name of a luxury car you allegedly own is just more evidence you are determined to engage in wealth signalling, which of course dovetails perfectly. 😉

            • Wedding_Shooter

              Wealth signalling? No. I just happen to own a bmw. Nothing more nothing less. The fanboys will upvote you though; do not worry.

            • Roger S

              But if your bmw is “just a car,” why say “I own a bmw” instead of “I own a car.”

            • PhilK

              Logic will not work on this one.

            • Wedding_Shooter

              Because we are using brands here. We can just say I own a car but I cannot go back in time. So you get the point or are you annoyed that I dropped in tht drive a bmw? So weird.

            • John Albino

              OTOH, the “best” car I ever had was a POS I owned when I was young and stupider. Why was that POS the “best” car i owned? Because it was old and cheap and I bought it completely with cash, and didn’t worry about maintenance other than gas (petrol) and fluids. Because it was old and simple there wasn’t much that could go wrong with it I couldn’t fix myself pretty cheaply.

              Assuming you really do have a BMW, you either leased it, financed it, or bought it outright. If you leased or financed it, you MUST give it regular maintenance according to the (at least implicit) terms of your contract. Generally, leasing companies require a better credit rating than finance companies because they want to know you’ll be able to afford maintenance.

              If you bought it outright, and don’t maintain it properly, most would consider you a fool, as in the old adage “a fool and his money…”

              Same goes for any other investment, nicluding tools of trade, ie in this case, your cameras and gear.

            • Yes like cars other companies have cameras. But see first that you are on a NIKON rumour site which sort of makes us nikon FANS. You may not be one but please cut us some slack will you?

            • marymig

              Troll?

            • Nyarlathotep

              Pretty much.

          • Wedding_Shooter

            You guys crack me up every time. Do you sit in your house worrying about this stuff? What if your supermarket you like to go to closes. Will you still be able to buy food like?

            • PhilK

              I wish your comments cracked me up, unfortunately they’re just predictable.

            • Roger S

              Not necessarily, depending on where you live (probably no relevant to the privileged, however). This is a big problem in some places. At your leisure, look up the term “food desert.”

            • Nyarlathotep

              No, no I don’t, but that doesn’t mean I ignore data or decide to not consider pertinent information in my life. “Hey gas prices are going up a $1/gallon this summer, good to know, I will want to know that when planning costs for flights and cars” but not, “OMG, prices! We’re doomed.” Amazingly, their is nuanced thought processes beyond 1 and 0, black and white.

            • PhilK

              Not in a troll’s mind. 😉

            • Fly Moon

              Just shut up.
              You’ve posted more than anybody else and you claim you don’t care.

            • John Albino

              Funny you should say that… Strangely enough, we have an actual case study right now where people are suffering and actually dying because their supermarkets closed.

              I’m talking about people in Puerto Rico, some of them my wife’s relatives, who cannot buy food at the local markets because Hurricane Maria destroyed much of the island’s infrastructure. Others cannot get proper medical care such as dialysis and medications because the power grid was destroyed.

              So yes, businesses closing can indeed result in hardship and death, and you’d be wise to keep your mouth shut about stuff you know nothing about.

        • I care if Nikon is financially healthy so they can invent new products and refine existing products that are even better. (so I can buy them.)

        • John Albino

          How can you be such an ANTI-capitalist (“…heartless big companies…wake up”)…’) yet be practicing one of the MOST capitalist forms of photography (wedding photographers generally are ruthlessly competitive)? Isn’t that a bit ironic, or at least sophistic?

      • You mean grammatically?

        • PhilK

          It’s an unfortunately common habit in the US by people who I consider to be lazy. (Rhetorically at the very least, I’m not sure grammatically lazy makes much sense. 😉 )

          • It is wrong usage though. Maybe you are right .

    • Fly Moon

      “Really could care less”

      How much less can you care-less?

    • jmb2560

      Because unless the Company makes profits, Nikon won’t be able to invest in new products and technologies. Your investment in lenses and accessories will be obsolete in two to three years and you will be pissed! Good enough?

      • Lee Smith

        Explain how your lenses will be “obsolete in two to three years” based on Nikon’s financial statements? Obsolete means, out of date, no longer usable….so if Nikon fails to meet their profit expectations, your lenses will self-destruct? No longer focus?

        • jmb2560

          Would you still use a D1x today? If Nikon cannot invest to develop technologies that will be implemented in future cameras, what will you do with your lenses when your DSLRs are all obsolete?

    • Nuke Dchat

      Pretty sad reply if you don’t know why you should care.

      • Wedding_Shooter

        That’s given me a laugh. The times I’ve actually used nikon services they’ve screwed up so bad I might as well have passed the body to my 5 year old for calibrating…

        • thundrrd

          OK.

      • Wedding_Shooter

        Ps You need to value yourself alot more. You are more than lenses and camera bodies. Does anyone that pick up your camera shoot as well as you? Is that all it is?

        • Nyarlathotep

          Sage words from a person seemingly more worried about peoples opinions about Nikon’s long term survivability than about picking up his camera to shoot.

          • PhilK

            Well he just wanted to post here to let us all know the important news about how little he cares about the subject.

            Total public service.

            • Nyarlathotep

              He cares so little, so hard, it went all the around too caring a lot.

            • PhilK

              This is always the case with trolls who claim to “not care” about something.

              In fact, they generally care 10x more than anyone else about the thing they claim not to care about. ;-D

          • Wedding_Shooter

            The old pick up the camera to shoot comeback. I have been. All day.

        • thundrrd

          Oh, OK.

    • You can choose not to read this post.
      We others on the other hand care about nikon’s future as much as cameras made by them and is important for our continued use of nikon cameras.

    • spamdie

      Yeah and those wedding photographers. Why pay them. They’re overpaid people with cameras bought from a Massive companies that makes profit. Fight the system!

      • Wedding_Shooter

        Not fighting anything here. Just don’t care about nikon’s profits!

        • David Gottlieb

          But you are fighting and being contentious. Look at all your posts on this subject. Dozens of them in this thread. If you didn’t care, why would you post so much? This is actually important news, as far as I am concerned and others are concerned. If you had invested a year ago in Nikon stock, as I stated before, then you would be ahead by 20 percent…. That’s not a bad return, is it? The survival of the company for all Nikon photographers is important to most of us. Good luck with your weddings!

          • Wedding_Shooter

            Because it’s amusing seeing so many fanboys get all bent out of shape for no reason.

        • Thom Hogan

          The irony is that while you’re discussing this in one context, another company that we tend to rely on, Adobe, has just made some changes in order to make them more profitable that have reasonably clear implications to its user base in the future.

          Thing is, Nikon is hammering the entire company on cost cutting and turning more profit on lower and lower volume. And that has direct impacts on what we experience as customers. That terrible customer service you allude to, for example. But it also is what cancelled the DLs, took features out of the D7500, and is going to have more impacts on us in the future.

          • Ivanku

            Did you notice that Canon is now offering overnight service for platinum CPS members, and Gold members get two day service with loaner gear if the repair takes longer? As an owner of some Canon gear, this is good to hear. For a hundred bucks a year, I have the ability to drive to NJ (from NYC), drop off my gear, and drive to pick it up two days later. That’s a good feeling. It seems like they’re really doubling down on customer service. I’ve also noticed that when Nikon does rebates, Canon bundles in no-liability repair coverage. I wish Nikon would do the same with their customer service strategy!

            • Thom Hogan

              Yes, I noted that. And your points are all dead on.

    • because this what we have been doing here for 10 years – we talk about Nikon and we cover everything related to Nikon, the good, the bad and the ugly

      • reductron

        And all for a fistfull of dollars.

        • please clarify your comment

          • reductron

            Well, Fistful: as much as a person can hold in their clenched hand. Which is not much. So, we talk about Nikon and we cover the good, bad, and ugly. You facilitate that for no more than a fistful of dollars (if you get ad revenue)

            Ok, the joke lost its meaning.

            • Allan

              Peter’s and your comment made me think about spaghetti westerns (Clint Eastwood). 🙂

            • nothing wrong with some good old westerns 🙂

            • I see now, thanks 🙂

    • Spock

      My guess is the profit forecast was intended to portray Nikon as a company that is beating expectations and dispelling rumors that it was heading toward financial collapse. The successful introduction of the D850 is helping with that no doubt.

      • ZoetMB

        Right, but depending upon how many they shipped in September, the D850 probably won’t have a big financial impact on the 2nd quarter fiscal. It will show up in the 3rd and 4th quarters.

    • Aldo

      Without such news… they wouldnt be able to keep a company running along with all the products we love.

    • It’s amusing that you don’t understand saying ‘I could care less’ actually means you really do care, at least a little.

      • Wedding_Shooter

        It’s ironic son.

    • Well i think a lot of people will be interested in this information about nikon and a lot will care less about your opinion 🙂

    • ZoetMB

      Because Nikon’s financial success will in large part determine how much investment they can make in R&D and new products and a massive failure could result in the end of Nikon or the sale of the company. All of that is relevant to a Nikon user with a big investment in their equipment. And it’s “couldn’t” care less, not “could” care less. But if that’s the case, you can simply ignore the article. Last fiscal, Nikon ran a 7.2% margin (and that’s probably EBITA). That’s not so good.

  • Eric Calabros

    Mitsubishi guys leaked financial info.. again.

    • Allan

      Well, if the source of the info is Mitsubishi, then they know which products are selling well.

      No mention of KeyMisssion. 🙂

      • Eric Calabros

        Hope they dictate Nikon to make another successful product under $1000.

        • TurtleCat

          Easier said than done.

        • Allan

          Agree.

    • Thom Hogan

      Well, I’m not sure that’s true. But it is true that if you know where to listen you’ll hear the “whisper numbers” prior to companies producing their actual quarterly reports (Nikon will report the numbers on Nov 7th, I believe). It’s not quite insider trading, but darned close, and it happens partly in the Keiretsu meetings, as the interlocked interests of the various companies/banks is important there.

      So let me describe what I heard from contacts in that group: Nikon sold fewer D850’s than they had planned going into the quarter, mainly because the actual launch got delayed a bit, thus the double announce (100th anniversary press release, followed by the actual release a month later). But that turned out okay because they sold more other models than they had anticipated, and they didn’t have to run lots of instant rebates to do so.

      To me, the thing to look at is market share when the next numbers get announced. Nikon has shown they can preserve profit in down markets, but you can’t do that forever. At some point if you let too much market share slip, you only enable competitors to take your place and you continue to slip. There’s a tipping point.

      Nikon hasn’t reached that tipping point yet, but they’re getting closer and closer to it. The margin for error is lower now.

  • Allan

    How do they know the D7500 is selling well?

    For someone not in the business world, I look at the trend in units sold for each category of products.

    • PhilK

      Data on that can be obtained in various ways, eg from retailers.

      Many manufacturers probably require retailers to sign NDAs promising not to share that “sensitive competitive information”, but it probably gets shared/leaked anyway.

      • Thom Hogan

        The retail numbers I’ve seen show that the D7500 is NOT selling all that well in the US and Europe. Moreover, “well” is a relative term in this context. It might be doing better than Nikon expected, and they’d consider that “well.”

        • PhilK

          It certainly surprised me, considering that Nikon seemingly threw out that model as a low-effort project to provide a SKU at a slightly lower price-point than the D500 and as a continuation of a series which, as far as I can tell, doesn’t really have much of a point any more in the post-D500 APS-C product-line.

        • Nakayamahanzaemon

          I highly suspect the validity of your “numbers”, but let’s suppose you’re right. Why do you think that sales numbers only in the US and Europe is important to know whether the D7500 is selling well or not? The share of both regions is declining in Nikon’s sales.

          • Thom Hogan

            I think I was clear: the US and Europe retail numbers don’t show the D7500 doing well. Beyond that, I don’t know, and I thought I wrote that.

            Nikon has this habit of pushing inventory into SE Asia and Asia to make their numbers, which is how we get so much gray market product in this country.

  • Allan

    From the article:

    “But highly functional top-line models have reportedly drawn a following
    from people who post pictures on social media platforms since the
    cameras produce the type of expressive images a smartphone cannot
    deliver.”

    That’s silly.

  • Allan

    There’s a lot of not favorable information in this article, e.g., operating profit down 30%.

    • TurtleCat

      Yes, they are failing less than expected. As they say in sports: a moral victory.

  • Glenn Koppel

    And how about that statement that they will release data from second quarter ending in March of 2018 in 2017! Now they tell the future.

    As an aside to all these comments, I care that Nikon stays in business but would hope they would also make products the average person can afford. Right now it seems that Nikon is ignoring that segment.

    • Allan

      ” …release data from second quarter ending in March of 2018 in 2017 …”

      I don’t think that’s what the article says.

  • A. F.O.

    major shareholders.

  • A. F.O.
    • Allan

      Thanks. Interesting stuff.

      Do these guys (and gals) care about photography? 🙂

      • Nyarlathotep

        Haha, I’m going to say only to the point that it maintains their investment’s performance.

      • A. F.O.

        they are bankers….most of.
        I think they take selfies.
        🙂

      • Thom Hogan

        No. They care about profits and ROI. That’s why the same report that presented this chart also talks about raising the dividend expectation from 30% to 40%.

      • Allan

        What is the consensus about what to type after writing a sarcastic comment?

      • ZoetMB

        Do any big investors of any company care about the purpose of the company’s products? Not likely. One of the biggest investors of many companies are pension funds. The manager of the pension fund has one fiduciary responsibility: to minimize risk and achieve the highest return possible. They couldn’t care less about what the company does in most cases. Having said that, pension funds have pulled out of investments that weren’t “politically correct” under pressure from employees and/or retirees. It was investment funds pulling out of South Africa that forced the government to finally end apartheid.

        • Allan

          Agree.

          My comment was sarcastic. The ” 🙂 ” was, in retrospect, incorrect. I should have written “(sarcasm)”. (Also, see my post right below.)

    • Huh, I thought T.I.M. would be in the top 10 for sure.

      • A. F.O.

        🙂

      • TurtleCat

        Andrew should be…

      • Ed Hassell

        I ought to be … they owe me big time for brand loyality. Over the course of my career, spanning 51 years, I’ve owned 34 Nikon bodies (currently, 11) and 119 Nikkor lenses (currently, 27 — plus 1 Schneider, 5 Sigma Art, 1 Tokina, 1 Voigtlander & 3 Zeiss — and I’ve got an Irix on order). Maybe they’ll give me a D850 as a reward (yeah, right).

        • thundrrd

          They will give you a thank you … um … well, maybe not, so I’ll give you one.
          Thank you.

        • ZoetMB

          They should be kissing your feet.

  • A. F.O.
    • Nyarlathotep

      That’s right, don’t the Japanese have a lot of control over outside entities holding any interest in Japanese corporations? I think Thom has mentioned this before in postings about the peculiarities of Japanese corporations.

      • A. F.O.

        Yes…they preserve japonese control in major corporates with the government “support”.
        Until today I am still amazed that the left the portuguese enter in their domains in 1543!
        🙂

  • Russ Heim

    Those dates listed don’t seem to add up…?
    “Nikon’s financial results of the 2nd quarter for the fiscal year ending March 31, 2018 will be announced on November 7, 2017”

    • TurtleCat

      The quarter ended 9/31 and will be reported 11/7. That’s fairly typical.

      • Russ Heim

        So you mean there are actually TWO mistakes as written…? i.e. it should have read “fiscal year ending September 30, 2017” .vs “fiscal year ending March 31, 2018”. It just caught my eye that as written they would be announcing future results (unless I’m miss understanding something in screenshot below). Mainly just wasn’t sure how to send suggestions for typo edits 🙂
        https://uploads.disquscdn.com/images/8b1a6fa0bb7840c86d1efb8112eac40ca797443eb086281286aa81b456e39199.png

        • Roger S

          I’ve been confused by this wording in the past, but think I get it now. They are going to report only on the results of the second quarter of their current fiscal year, not on their whole fiscal year; and the second quarter goes from July 2017 through September 2017. The current fiscal year actually began on April 1 2017 and runs through March 31 2018. Thus, the period from July through September of 2017 equals the second quarter of the now ongoing fiscal year, which ends at the end of fourth quarter on March 31, 2018. And the “first half profit-forecast” that they hope to beat was an initial forecast for the period from April 2017 through September 2017. I hope that this all makes sense.

          • Russ Heim

            Thanks Roger 🙂 After reading your explanation it’s crystal clear now and reads as intended… can’t believe I was so thick 😉 Thanks again! 🙂

            • Roger S

              As I said, this kind of statement has confused me in the past as well!

        • ZoetMB

          No. Nikon’s fiscal year is April through March. They’re currently in the 2018 fiscal year because it ends March 31, 2018. So it’s totally correct to say that the second quarter results (July-September 2017) for the 2018 fiscal year will be announced on 11/7/2017.

  • Captain Megaton

    Up 23% by value, before the d850 even went on sale? Not bad, Nikon, not bad at all!

    • Kob12

      This 23% is for total shipment from all camera manufacturers, not just ny Nikon.

      • Captain Megaton

        Are you sure? Paragraphs adjacent are Nikon specific.

      • Thom Hogan

        Right. As I noted above, the thing I’ll be looking at when they report is the market share slippage.

        • ZoetMB

          Yes, but with so few D850’s shipping in Q2, I think the real story will be the next two quarters – to see if Nikon picked up any share because of the D850 in spite of the fact that it’s a relatively expensive camera. I also think we tend to ignore Nikon’s lens share, which in some ways is more important because it demonstrates the commitment of its users to further invest in the system (or at least in Nikon’s products for the system). It was about 34.1% in fiscal 2008, 24.1% last fiscal and 21.8% in the first quarter.

          A lot of lenses are out-of-stock right now. As usual, it’s hard to tell whether it’s because they’re selling well or because Nikon is having manufacturing productivity issues. When I last checked a week ago, 20% of the entire line and 27% of the lenses with street prices over $1K were out of stock at B&H including four of the E lenses.

          • thundrrd

            I think your number is either wrong, or misleading.

            BH shows 127 total lenses for Nikon and 10 are showing out of stock – one being the anniversary three lens set – and BH shows 51 Nikon lenses which cost $1000 or more and only 4 of them out of stock – again, one being the anniversary three lens set.

            • ZoetMB

              There aren’t 127 lenses, so I don’t know what you’re looking at. The Nikon USA website has 104 lenses, but 6 are actually discontinued, so that leaves 98. As of a week ago, the following were out-of-stock in U.S. warranty editions:
              24-70 2.8E, 24-120, 70-200 2.8G, 70-300 G, 70-300E, 200-400 4.0
              24 1.4G, 105 1.4E, 300 2.8G, 400 2.8E, 800E
              DX: 55-200G, Micro: 60 2.8 AF-S G, T-S: 85
              Teleconverters: TC-20EIII
              AI-S: 20 2.8, 50 1.4, 105 micro
              + the anniversary lenses.
              20/98=20.4%. If you don’t want to count the anniversary lenses, 18/96=18.75%. 43 of the lenses are street priced above $1K. 13/43=30% or 11/41 (if not counting the anniversary lenses) = 27%.
              Also, every once in a while, a new copy of an old discontinued lens shows up at B&H. Don’t know if it’s still there, but last week there was a 600 4.0 AI-S in stock for $4499.
              But if some of those lenses are back in stock, great. As I said, my counts were as of a week ago.

            • thundrrd

              I never said Nikon has 127 lenses – I have no idea how many lenses Nikon has (makes), nor do I really care – I said BH shows a total 127 lenses.

            • ZoetMB

              No, BH shows a total of 127 listings for lenses which means nothing. And if you don’t care, I don’t know why you’re bothering to challenge my data in the first place, since you’re not willing to do the work to really see if I’m correct or not.

            • thundrrd

              OK, you win.

  • lol 🙂

  • JJ168

    Japanese financial year is from 1 apr to 31 mar. So, the 2nd qtr for financial year ending mar 2018 is for tje qtr 1 jul 17 – 30 sep 17. It is reasonable that the report will come in nov17. Hope this help.

  • Should have bought Nikon and Adobe stock this year. Damn…

  • Gosh1

    This is Great News. the D850 can only boost profits, especially with all the refugees from Canon et al having to buy Nikkor glass too 🙂

  • steeler_fanatic

    I’m not a pro but an enthusiast starting with the FM in the early ‘80s. I very much want Nikon to survive or, better yet, thrive moving forward. If not, with the enormous value of the brand and the existing base, someone will step in and acquire its IP and key assets. My hope in that case is it is not another camera manufacturer as the Nikon we all know would disappear. But if not a Sony, Canon, Fuji or other, then who?

    • ZoetMB

      The problem with acquiring the brand is that it’s just a name that a manufacturer (probably a Chinese manufacturer if that were to happen) sticks on a bunch of usually crappy products. When you see TV’s or other consumer electronics with the names of old American hi-fi or electronics manufacturers, that’s all it is – it’s a name license having nothing to do with the original company (other than the name).

      Nikon isn’t going out of business, but thriving is another matter. During the film era, Nikon was actually a pretty small company. The D70 sold more units in its first year than the original Nikon F sold in its lifetime. But once a company, especially a public company, becomes big, it’s very hard to go back. Nikon’s imaging division did USD$9 billion in fiscal 2013. It did $3.5 billion last fiscal. That’s a problem. If it were a U.S. company, it probably would have been sold or spun-off already. At the very least, most of the entire senior management team would have been changed long before now.

      • steeler_fanatic

        I worked for Westinghouse when it actually was a monolithic US entity so I definitely know what can happen to a brand and brand name when the company is broken up and sold for parts. My fear is Nikon will continue to lose market share and thus not be able to remain competitive. Westinghouse was a great engineering company with poor management. I see some parallels here that are not comforting. However, Nikon is a Japanese icon and I can see that there would be efforts to not let this happen.

  • thundrrd

    God I love that song.

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